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Desperate For Apple’s iPhone 5? Some To Pay 3X Retail Price

August 19, 2021 | Matt Tran

We know many of you are very excited about the forthcoming iPhone 5, but how badly do you want one? A question we have been asking you for a long time is exactly how much would you pay? Would you shell out more knowing you would be one of the first to get the highly desired iPhone 5? Studies have been carried out to see exactly how much extra we pay when we want something first, the results are pretty extreme.

Economy analyst Professor Michael Waterson from the University of Warwick has estimated how much extra we would be willing to pay by studying eBay transactions. As you know, when a breaking hot product comes out, many people buy them to sell on for large gains, eBay playing the middle man. The transactions analyzed were those of the iPhone 4 in the UK on eBay as soon as it launched last year, Gerald Lynch of Tech Digest has reported.

An amazing £1.5 million was made from sales of the iPhone 4 on eBay in a 6 week period. The study began on June 24th when the smartphone first launched with it being concluded that us Brits will be willing to pay 3 times the recommended retail price when the iPhone 5 launches based on this study The RRP for a 16GB iPhone 4 is £499, with the average sale price being £640.35. The highest someone paid was £1,180, with 98% of completed transactions being over the RRP.

When it came to the big daddy, 97% of eBay users paid over the retail price for the 32GB iPhone 4. The RRP was £599, the average buyer paying £778.73 for the coveted handset. The most somebody paid out for an iPhone 4 with double memory was £1,551. The general feeling is that when technology is involved, we are very “snobbish” and are not shy to shell out for the kudos of being amongst the first to flaunt a new gadget. According to IT Pro Portal, Steve Jobs is discussing the iPhone 5′s introduction with China Mobile so its time to prepare on how you will get yours. We have also had strong pointers that the iPad 3 will launch in March 2012.

Professor Waterson concluded that due to limited supply and high demand, the price of the iPhone 4 was highly inflated and this will be even worse with the iPhone 5. It has been predicted that some of us will be prepared to pay treble the RRP, with a an iPhone 5 potentially setting someone back £1500 or £1800! Many of us we will have to wait a little longer as they will probably all be snapped up by the super rich, would you really be willing to pay such a ridiculous amount of money though?

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